Sun Pharma's Dadra facility receives OAI inspection status from the USFDA; stock slips
As of 9:44 a.m., shares of Sun Pharma traded over 1.82 per cent or Rs 29.2, lower at Rs 1574.8 apiece on BSE. The market capitalisation of the company at around the same time stood at Rs 3,77,910.02 crore.
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Sun Pharma shares lost over 2 per cent in Friday's morning deals after the company's Dadra facility received Official Action Indicated (OAI) inspection status from the US Food and Drugs Administration (USFDA).
As of 9:44 a.m., shares of Sun Pharma traded over 1.82 per cent or Rs 29.2, lower at Rs 1,574.8 apiece on BSE. The market capitalisation of the company at around the same time stood at Rs 3,77,910.02 crore.
The pharmaceutical company on Thursday announced that its Dadra facility was inspected from December 4, 2023, to December 15, 2023, and the USFDA has subsequently determined the inspection classification status of this facility as Official Action Indicated (OAI).
"USFDA conducted an inspection at the company’s Dadra facility from December 4, 2023, to December 15, 2023. US FDA has subsequently determined that the inspection classification status of this facility as Official Action Indicated (OAI). We will work with the regulator to achieve fully compliant status," the filing read.
Sun Pharma Q3 performance
Sun Pharmaceutical Industries Ltd reported a 16.52 per cent rise in its consolidated net profit to Rs 2,523.8 crore in the third quarter that ended December 31, 2023. The company had posted a consolidated net profit of Rs 2,166 crore in the year-ago period, Sun Pharmaceutical Industries said in a statement.
Consolidated total revenue from operations during the quarter under review stood at Rs 12,380.7 crore as compared to Rs 11,240.97 crore in the corresponding period a year ago, it added.
Total expenses were higher at Rs 9,560.74 crore as against Rs 8,943.38 crore in the same quarter of FY23.
The company is yet to announce its Q4 result date.
Sun Pharma share price: Past performance
In a year, Sun Pharma shares have gained over 55 per cent, against Nifty50's rise of over 27 per cent.
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